Czech power utility CEZ AS (BAACEZ.PR) said Wednesday it will invest EUR1.1 billion in a wind farm project in Romania that it has bought from Continental Wind Partners LLC.
The wind-powered electricity generating farm, scheduled to go online in 2010, will have an installed capacity of 600 megawatts, the company said.
CEZ's Romanian wind farm is located 17 kilometers from the Black Sea coast north of the port of Constanta and is due to become the largest wind farm project in Europe, exceeding three times the installed capacity of the currently largest wind power generation project in Spain's Guadalajar.
CEZ already operates power distribution networks in Romania and is active in electricity generation across central and eastern Europe.
At 0728 GMT, CEZ shares were unchanged on the day at 1,240 koruna ($74.2) in the slightly higher overall market.